Nov 11 Chipmaker RDA Microelectronics Inc
said it will sell itself to China's state-owned Tsinghua
Unigroup Ltd for about $910 million.
The $18.50 per share deal represents a premium of 5.5
percent to RDA's Friday close of $17.53 on the Nasdaq.
Tsinghua Unigroup Ltd, which is funded by the Tsinghua
University, on Friday offered to buy RDA for $18 per share,
topping a $15.50 per share bid by Shanghai Pudong Science and
Technology Investment Co Ltd.
RDA Microelectronics, which makes radio-frequency chips for
mobile and broadcast devices, counts Huawei Technologies
, ZTE Corp and Lenovo Group Ltd as
"RDA will complement our existing portfolio in consumer
products, protection and support and will benefit from our vast
IP library and unique access to important capital markets in
China," Tsinghua's Chairman and President Zhao Weiguo said in a
The deal is expected to close in the first half of 2014.
Kilometre Capital acted as a strategic consultant to RDA,
while Wilson Sonsini Goodrich & Rosati, P.C. and Skadden, Arps,
Slate, Meagher & Flom LLP are legal advisers to RDA. Morrison &
Foerster LLP is serving as legal adviser to Tsinghua Unigroup.